Documents Required For Business Loans

Documents Required for Professional loans

  • Papers as proof of identity like Passport, Pan card, Voters ID Card and Driving License.
  • ITR with full computation of income.
  • Proof of address like bank statements, ration cards, electricity bills, telephone bills.
  • Balance Sheet and last 2 yrs account certified by CA.
  • Highest Professional Degree Qualification Proof.
  • Bank statements of last six months and passbook.
  • Continuation proof like Sales Tax Certificate and Trade license.
  • Passport size photographs.

Documents Required in case of Proprietorship or Partnership Firm

  • Individual identity proof – Voter Identity Card, Passport, PAN card, MAPIN card, Driving License.
  • Residential Address proof like voter I-card, Driving License, PAN card, MAPIN card, Passport copy.
  • Identity proof like sales tax copy, Excise Registration Receipt, Service tax, PAN ID, VAT, copies of bills of Water, Electricity, Municipality and IT returns.
  • Documents like Balance Sheet and IT returns paid.
  • Bank statements
  • Form 60 and PAN number.
  • Place of business proof.
  • Passport size photos.

Documents Required for Business Loans if the Company is PVT. LTD.

  • Letter from Board that includes copy of annual return to establish the shareholding pattern.
  • Individual identity proof for authorized signatories. This should include copies of PAN card, MAPIN card, Driving License, Passport and Voter’s Identity Card.
  • Director’s list.
  • Filled in Form 60.
  • Documents of finance like Balance sheet and Income Tax return copies.
  • Bank Statements of last six months.
  • Passport size Photographs.

Business Loan Eligibility

Age Limit: Not less than 21 years and not exceeding 65 years.
Range of Loan Amount: Minimum Rs. 25,000 and Maximum Rs. 2,00,00,000
Minimum Annual Income Required: Rs. 200,000
Loan Tenure: Minimum period of 1 year and maximum 5 years.